South State Correspondent

MAY 31, 2023

It is a dangerous troupe in banking that an omnichannel approach is best. The concept that we allow the customer to choose how they want to bank often enables the bank to be passive in its position and give up agency. Branching, for example, is too expensive to be all things to all people.

Data 195

Data Branch Strategies Strategy Mobile 195

Independent Banker

MARCH 15, 2015

Increasingly, more digitally connected consumers are saying yes to that question with their community bank. Some even assume their bank will interact with them however and whenever they want. For many community banks, telephone calls still generate the highest volumes of customer service interactions.

Community Bank 70

Community Bank Community Operations Retail 70

Independent Banker

JULY 31, 2022

Fallout from recent global events presents an obstacle to generating revenue for community banks. As we enter budgeting season, the answers might be found in a mix of strategies. It’s certainly an interesting time to be a community bank, but there are still plenty of ways to make efficiencies with an eye on profitability. ?

Strategy 135

Strategy Community Bank Louisville Community 135

Jeff For Banks

DECEMBER 1, 2015

All talk of visibility and foot traffic aside, the measure of branch success should be profits. This is down from 4.17% for banks and 2.51% for thrifts in 2006. So if your “light branch” has $23 million in average deposits, as our “branch of the future” example above does, then it generates $478,400 in annual revenue, on average.

Pennsylvania 60

Pennsylvania Community Bank Community Taxes 60

Fintech Labs Insights

AUGUST 21, 2015

But if you do have good branches, you should at least use your digital presence to showcase them. Probably the best example of growing a franchise using branching (at least in the United States over the past 20 years), is Umpqua Bank. Do not try to copy this, it’s not 1995 any more).

Branch Strategies 12

Branch Strategies Seattle United States ATM 12

South State Correspondent

MAY 1, 2024

For inspiration in banking innovation, we often look to other industries. Honkook Kim and his Gentle Monster Brand is a perfect example. With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a community bank.

Innovation 195

Innovation social media Branding Marketing 195